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Journal article

Value-driven river management: A Murray River case study

1 Jan 2013
Description

This paper outlines a quasi-economic hydrological model and management paradigm geared toward public and not-for-profit regulatory bodies, with particular reference to the southern Murray-Darling Basin in southeast Australia. This value-oriented model and paradigm bridges the gap between short-range hydrological forecasting and long-range economic planning. Decision-making is assisted by a scenario-based methodology with a clear distinction between baseline and marginal quantities.

 

The paradigm has applications to seasonal planning, commercial water trading, environmental stewardship and structural adjustment. Specific applications to the Murray-Darling Basin include (i) evaluation of options for infrastructure upgrades and licence buybacks intended to address resource over-allocation, and (ii) revival and rationalisation of hydrological exchange rates for temporary and permanent water trades, with the aim of rigorously accounting for third-party effects.

Publication Details
Identifiers: 
ISBN: 
1324-1583
Volume: 
Vol. 17
Issue: 
No. 1
Publication Place: 
Barton, A.C.T.
Language: 
Published year only: 
2013
2
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